Category: Annuities

ATTORNEY NEWSLETTER Guggenheim Partners/Security Benefit Life Insurance Company Total Value Annuities (TVAs) The life insurance and annuity attorneys at Evans Law Firm, Inc. represent clients who have suffered losses on all types of life insurance and annuity contracts, including indexed annuities. Indexed annuities are hybrid annuities that offer both a […]

ATTORNEY NEWSLETTER FINRA Concerns With L Share Annuities L Share Variable Annuities are a type of variable annuity where the surrender charge period under the contract is shortened to three or four years but administrative fees and mortality expense rates are higher. L-Shares are also often sold with long-term riders […]

ATTORNEY NEWSLETTER Genworth Life and Annuity Insurance Company Whole and Universal Life Insurance Required Disclosures to Senior Policyholders If you are over age 60, live in Marin County or elsewhere in California, and have cancelled (or surrendered) a whole or universal life insurance policy issued by Genworth Life and Annuity Insurance […]

ATTORNEY NEWSLETTER Full and Partial Surrenders or Cancellations of Athene Annuity and Life Company Annuities Athene Annuity and Life Company, formerly Aviva Annuity and Life Company,[1] issues fixed indexed annuities in California.  These contracts, like all deferred annuities, include penalties for early withdrawals, known as surrenders.  Surrenders may be full […]

ATTORNEY NEWSLETTER Beware the Hard-Sell Free Steak Dinner High Pressure After a Free Meal Seniors and retirement investors grow anxious in a volatile stock market. Insurance agents seize on that anxiety to push annuities and life insurance as “safer” investments for the future.  One sales tactic is to offer a […]

ATTORNEY NEWSLETTER FINRA Concerns With L Share Annuities L Share Variable Annuities are a type of variable annuity where the surrender charge period under the contract is shortened to three or four years but administrative fees and mortality expense rates are higher. L-Shares are also often sold with long-term riders […]

ATTORNEY NEWSLETTER Annuities Are Expensive, Complex, and Illiquid Big Fees, Modest Yields, and Withdrawal Charges Annuity carriers and agents use fear tactics to push annuities. One agent recently claimed on the radio that “It could take a lifetime to make up your losses in the stock market.”  Not really.  The […]

ATTORNEY NEWSLETTER Fraud Up as Annuity Sales Increase Unsuitable Products and Churning Annuity sales are up and so are cases of fraud, especially on seniors. The fraud on seniors varies but typically involves either the sale of unsuitable products or unlawful “churning,” where agents convince annuity owners to trade one […]

ATTORNEY NEWSLETTER FINRA Troubled by Recommendations of Unsuitable Annuities Over-Concentration in Annuities The Financial Industry Regulatory Authority (FINRA) polices advisor recommendations of investment products including annuities. The agency recently reported a disturbing trend of advisor recommendations of variable annuities in particular as unsuitable products for certain consumers. The agency also […]

ATTORNEY NEWSLETTER Beware Fixed Index Annuities Phantom Bonuses and Other Downsides Insurance agents and financial advisors are increasingly using our low interest rate/volatile stock market environment to push a product called fixed indexed annuities. Agents claim the contracts offer the upside of market increases (the “indexed” part) with downside protection […]